Regulatory Alerts2016-04-07
Law L/95/022/CTRN of June 12, 1995 Enacting the Insurance Code
The Transitory Council for National Recovery of Guinea issued Law L/95/022/CTRN of June 12, 1995, establishing the Insurance Code to regulate terrestrial insurance contracts. The legislation mandates strict written documentation, defines non-negotiable procedural rules, and sets a two-year limitation period for claims while extending it to five years for life and accident policies. It further outlines precise obligations for premium payments, risk disclosure, and contract termination, while prohibiting clauses that unfairly penalize insured parties for minor delays or unauthorized legal violations.
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